Stellantis looks to building Leapmotor EVs in Italy

MILAN, Feb 19 (Reuters): Stellantis is considering building up to 150,000 low-cost electric vehicles (EVs) in Italy, in its Mirafiori complex in Turin, as part of its agreements with Chinese automaker Leapmotor, Automotive News Europe said on Monday.

The Franco-Italian automaker last year bought a 21 per cent stake in electric vehicle maker Leapmotor in a $1.6 billion deal. As part of that deal, the two groups announced a joint-venture, which is 51 per cent-controlled by Stellantis and which gives the European carmaker exclusive rights to manufacture Leapmotor's products outside China.

Stellantis Chief Executive Carlos Tavares said at that time that Leapmotor's cars would be visible in Europe within a maximum of two years. Production of Leapomotor's cars in Italy could start as soon as 2026 or 2027, Automotive News Europe said, quoting sources familiar with the matter.